Wormhole (W) has declined by 16.33%, over the past week.
600 million W tokens, worth $180.5 million will be unlocked tomorrow.
The crypto market is anticipating potential bearish momentum as the current market dynamics stay on the borderline of the bearish zone. The tokens are fluctuating and settling back to their recent lows. Among them, the native token of the popular cross-chain bridge platform, Wormhole (W), has declined by 2.40% over the past 24 hours.
The token’s all-time low was hit yesterday at $0.2258, and the all-time high was attained four months ago at $1.61. Amid this uncertainty, Wormhole has announced a major token unlock on August 3. A total of 600 million tokens, valued at approximately $180.5 million are entering into the market.
This results in over 6% of the maximum supply. The current circulating supply is 1.8 billion W tokens. The token unlocking brings in skepticism about whether it will positively impact liquidity or its potential impact on
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